Chinese authorities have announced that Kuwait Investment Authority (KIA) has secured an initial $300m quota to purchase yuan-denominated stocks and bonds, KUNA has reported. KIA was initially allowed by the State Administration of Foreign Exchange (SAFE) to invest up to $300m in mainland China’s securities market as a qualified foreign institutional investor (QFII).Upon SAFE’s approval, KIA will be able to increase the quota every month until it reaches the one billion dollar ceiling.